Market news

26 May 2020

Bank of Japan ready to take additional policy easing, says Kuroda

RTTNews reports that the Bank of Japan will not hesitate to take additional easing measures if required as the novel coronavirus, or Covid-19, depressed global activity, Governor Haruhiko Kuroda said on Tuesday.

Japan's economy has been in an increasingly severe situation due to the impact of the spread of Covid-19 at home and abroad, Kuroda said in a semi-annual testimony to parliament.

As the impact of the spread wanes, Japan's economy is likely to improve. The annual rate of change in consumer prices is expected to increase gradually, he added.

However, the outlook for economic activity and prices is extremely unclear, he said.

The BoJ last week introduced a new lending program worth about JPY 30 trillion to help financing small and medium-sized firms struggling to operate.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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